Mr. Justin Reid reports

TROILUS AGREES TO COMMERCIAL OFFTAKE TERMS WITH AURUBIS FOR ITS COPPER-GOLD CONCENTRATE

Troilus Gold Corp. has agreed to indicative commercial offtake terms with Aurubis AG, a leading global copper smelter headquartered in Hamburg, Germany, for the offtake of copper-gold concentrate expected to be produced from the company's Troilus project in northern-central Quebec, Canada.

The final binding offtake agreement is expected to be executed in connection with the completion of the project's broader debt financing package of up to $700-million (U.S.) announced on March 13, 2025, which is being structured by a syndicate of global financial institutions, including Societe Generale, KfW IPEX-Bank and Export Development Canada (EDC). This financing is expected to include support from Euler Hermes Aktiengesellschaft, representing the German Federal Ministry for Economic Affairs and Climate Action, which has issued a letter of intent (LOI) to Troilus for up to $500-million (U.S.), confirming in-principle eligibility for an untied loan guarantee (see Nov. 13, 2024, press release).

As outlined in the company's May, 2024, feasibility study (see May 14, 2024, press release), the project is expected to produce an annual average of approximately 135.4 million pounds of copper equivalent or 75,000 wet metric tonnes of concentrate. The concentrate will contain copper, gold, and silver as payable metals.

Justin Reid, chief executive officer of Troilus Gold, commented: "Reaching an agreement on indicative offtake terms with a world-class partner like Aurubis marks a key milestone as we advance toward construction of the Troilus mine. This agreement enhances both the technical and financial readiness of the project and reflects the quality of concentrate we expect to produce. Canada and Germany have a long-standing and collaborative relationship, and we are proud to contribute to that through this strategic alignment. We look forward to building a strong, long-term partnership with Aurubis and establishing a presence in Europe as we advance toward construction readiness."

"The agreement with Troilus further strengthens our global raw material portfolio with high-quality concentrates and reinforces our competitive position in the international market. Leveraging our broad network and expertise in processing diverse raw material qualities, we create long-term planning security and mutual value for both partners. Partnerships like this are an integral part of our growth strategy," said Tim Kurth, chief operating officer of Aurubis.

The indicative agreed-upon offtake terms include anticipated specifications for the concentrate, precious metals payabilities, treatment and refining charges, and applicable penalties for deleterious elements. Metallurgical test work conducted to date as well as historical data from the past operation indicate that there will not be penalties incurred outside the thresholds outlined in the agreement.

Ocean Partners USA Inc. is acting as Troilus's independent third party adviser in support of the company's concentrate offtake strategy. With deep expertise spanning technical, commercial and financial disciplines, Ocean Partners has provided valuable market insight and guidance throughout the development of the offtake arrangements. Its involvement has been instrumental in conducting the specialized analysis and commercial structuring required for long-term concentrate sales, helping to ensure a strong and competitive foundation for the project as it advances toward construction.

Auramet International Inc. continues to assist with the continuing structuring of the debt package and engagement with potential lenders and strategic partners. The company remains focused on advancing all aspects of the project toward a construction decision and will provide further updates as progress continues.

Qualified person

The technical and scientific information in this press release has been reviewed and approved by Kyle Frank, PGeo, vice-president, exploration, who is a qualified person as defined by National Instrument 43-101. Mr. Frank is an employee of Troilus and is not independent of the company under NI 43-101.

About Troilus Gold Corp.

Troilus Gold is a Canadian development-stage mining company focused on the systematic advancement of the former gold and copper Troilus mine toward production. Troilus is located in the Tier 1 mining jurisdiction of Quebec, Canada, where it holds a large land position of 435 square kilometres in the Frotet-Evans greenstone belt. A feasibility study completed in May, 2024, supports a large-scale, 22-year, 50,000-tonne-per-year open-pit mining operation, positioning it as a cornerstone project in North America.

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